The “Mississippi Bubble” and the complex history of Haiti
Cambridge, MA – Many things account for Haiti’s modern troubles. A good perspective on them comes from going back in time to 1715 or so — and grappling with a far-flung narrative involving the French monarchy, a financial speculator named John Law, and a stock-market crash called the “Mississippi Bubble.”
To condense: After the death of Louis XIV in 1715, France was mired in debt following decades of war. The country briefly turned over its economic policy to Law, a ...